Worth reading
28Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedStatements about the use of capital
Payout ratio / DOE policyGradual increase in the payout ratio. Numerical targets and the target period: Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalCost of shareholders' equity: 9.2%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceFY2025 PBR was 2.2x, down from 3.9x in FY2024. The company has stated a policy of seeking to improve PBR. FY2025 PER was 16.6x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01A. Expand core business earnings (organic growth in consolidated P&L)
02B. Monitor the business with a focus on capital efficiency and optimise the business portfolio
03C. Balance investment with shareholder returns
04D. Use financial leverage in a disciplined manner
05E. Improve the expected growth rate
06F. Reduce the cost of shareholders' equity
Non-financial targetsIndicator name Information sessions for individual investors / Target value At least once a year / Timing Not stated (under consideration)
Risks identified by the company
Domestic and overseas economic conditions
Changes in internal and external conditions affecting business operations
Uncertain factors inherent in the outlook and potential risks
Unpredictable impacts arising from future events
| Item | Details |
|---|---|
| Plan name | Update on Initiatives to Achieve Management Conscious of Capital Costs and Share Prices |
| Progress against the plan | Partially revised |
| Payout ratio / DOE policy | Gradual increase in the payout ratio. Numerical targets and the target period: Not disclosed. |
| Cost of capital | Cost of shareholders' equity: 9.2% |
| Self-assessment of PBR and share price | FY2025 PBR was 2.2x, down from 3.9x in FY2024. The company has stated a policy of seeking to improve PBR. FY2025 PER was 16.6x. |
| Non-financial targets | Indicator name Information sessions for individual investors / Target value At least once a year / Timing Not stated (under consideration) |
| Key initiatives | A. Expand core business earnings (organic growth in consolidated P&L), B. Monitor the business with a focus on capital efficiency and optimise the business portfolio, C. Balance investment with shareholder returns, D. Use financial leverage in a disciplined manner, E. Improve the expected growth rate, F. Reduce the cost of shareholders' equity |
| Risks identified | Domestic and overseas economic conditions, Changes in internal and external conditions affecting business operations, Uncertain factors inherent in the outlook and potential risks, Unpredictable impacts arising from future events |
| Publication date | 9 September 2026 |
Items this document does not state (16)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyTotal investment planInvestment amount by sectorSegment targetPlan assumptionsResults under the previous planReason for revision or withdrawalSize of the Target MarketDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Explains that the content announced on 17 October 2025 has been updated, but does not state a specific reason for the update.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.